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Business survival rate now less than 50% — CEO Ekimiks

  By Franklin Alli

BUSINESS survival rate in Nigeria is now less than 50 percent. This is due to increasing exchange rate of the naira to foreign currencies and interest rates charge by banks on loanable funds.

Mr. Ekiyor Tope Miriki, the Chief Executive Officer of Ekimiks Nigeria Limited, disclosed this when he addressed delegates at a training programme for young entrepreneurs in agriculture.

The programme which has this theme ‘Empowering Agripreneurs on Agripreneural and Business Management,’ attracted more than 60 youth from six countries across Africa.

“With the business survival rate being less than 50 percent, a business in agriculture is even more demanding due to the economics involved in the process,” he stated.

The creation of business opportunities for unemployed youth in the agricultural sector is at the center stage of an African wide initiative led by the International Institute of Tropical Agriculture.

Dr. Nteranya Sanginga, the Director General of IITA, the organizer of the event, explained that inclusive growth of the continent could be achieved through the joint implementation of mechanisms in agribusiness which would work for both farmers and consumers.

“A young ‘agripreneur’ coming from a communication background is working with fish now. First, you might think communication and fish where is the link?; but when you start understanding how sales figures of fish products can increase throughout value chains by involving young people coming from different sectors, such as communication or marketing, it might become an eye-opener for you in engaging in new partnership opportunities,” he said.

Chief Moji Ladipo, a former Registrar of the University of Ibadan, encouraged the participants to be passionate about what they do.

 


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